Wall Street Zen Upgrades FibroBiologics (NASDAQ:FBLG) to Sell

FibroBiologics (NASDAQ:FBLG) was upgraded by stock analysts at Wall Street Zen to a “sell” rating in a report issued on Saturday.

A number of other analysts have also weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. HC Wainwright lowered their price target on shares of FibroBiologics to $80.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.00.

FibroBiologics Price Performance

Shares of FBLG stock opened at $1.38 on Friday. FibroBiologics has a twelve month low of $1.03 and a twelve month high of $30.60. The company has a market cap of $4.84 million, a P/E ratio of -0.16 and a beta of 1.07. The business has a fifty day simple moving average of $5.49 and a 200 day simple moving average of $6.70.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. As a group, equities research analysts anticipate that FibroBiologics will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason Davis bought 3,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $8.20 per share, with a total value of $28,700.00. Following the transaction, the chief financial officer owned 3,500 shares of the company’s stock, valued at $28,700. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 9,574 shares of company stock worth $72,886. Corporate insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On FibroBiologics

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of FibroBiologics during the first quarter worth $29,000. XTX Topco Ltd lifted its holdings in FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after buying an additional 28,276 shares during the period. AMG National Trust Bank acquired a new position in FibroBiologics in the fourth quarter valued at $31,000. Jane Street Group LLC bought a new stake in FibroBiologics during the fourth quarter valued at $34,000. Finally, Marshall Wace LLP bought a new stake in FibroBiologics during the second quarter valued at $49,000.

FibroBiologics Company Profile

FibroBiologics, Inc operates as a cell therapy, regenerative medicine company. It is developing a pipeline of treatments and potential cures for chronic diseases using fibroblast cells and fibroblast-derived materials. It holds 150+ U.S. and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, reversing organ involution, and cancer. FibroBiologics, Inc was incorporated in 2021 and is based in Houston, Texas.